Forex Daily Forecast, Analysis and Prediction

The Australian dollar initially pulled back a bit during the trading session on Wednesday but found enough support near the 0.71 level to turn around and rally quite nicely.

For four trading sessions in a row, the EUR/USD pair was in a downward correction range that pushed it towards the 1.1710 support at the time of writing.

UK employment data is the first of two major economic releases due this week, and interest is likely to wane when the GDP statistics are released today.

Gold futures ended yesterday's trading sharply lower in light of riskier assets’ recovery, such as stocks.

Ahead of the announcement of the important consumption figures to measure the US inflation, the USD/JPY is moving in a cautious upward correction that pushed it towards the 106.79 resistance in Wednesday morning trading.

Restrictions implemented to slow the spread of the Covid-19 pandemic continue to be eased, as Canada has a relatively low daily infection count.

Bitcoin/USD: The beginning of bearish correction.

USD/JPY: Trend reversal starts.

AUD/USD: Monitoring tensions with China.

GBP/USD: A correction awaits momentum.

EUR/USD: An imminent shift of trend.

While the global economy remains under growing stress from the Covid-19 pandemic, South Africa is set to benefit from the massive stimulus packages implemented by developed countries.

A recent survey of 4,500 Swiss firms by the KOF Institute found 86% of respondents confident about their prospects despite the Covid-19 pandemic.

Manmohan Singh, the former Prime Minister of India, and current leader of the opposition, in an interview with the BBC, outlined three essential steps the government should take to ensure an economic recovery.

The US dollar has rallied rather significantly during the trading session on Tuesday, breaking towards the 50 day EMA.